Getting bank licence will be tough: RBI

Statesman News Service | June 26, 2013 2:13 pm

MUMBAI, 3 JUNE: Making it tougher for aspirants, the Reserve Bank today said it will look for very high quality applications to issue new bank permits and it may not be possible to issue licences to all eligible applicants.
“There is no predetermined number. The RBI will be very selective while considering the applications for new bank licences. It will look for very high quality applications,” the RBI said in a notification elaborating its response to the queries raised by various stake holders.
It may, therefore, be not possible to issue licence to all the eligiblle applicants,” it said.
On timeline for granting in-principle approval for bank licence, the RBI said: “It will not be possible to indicate the timeline for grant of in-principle approvals at this stage.”
The RBI, which had on 22 February issued final guidelines for issuing new banking licences, today came up with clarifications to various queries. pti